TXNM Energy (NYSE:TXNM) Hits New 12-Month High – Still a Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s stock price hit a new 52-week high on Thursday . The company traded as high as $51.25 and last traded at $51.19, with a volume of 36784 shares traded. The stock had previously closed at $50.97.

Analysts Set New Price Targets

A number of research firms recently commented on TXNM. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price objective on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays lifted their target price on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Scotiabank upped their price target on shares of TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Citigroup lifted their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.33.

TXNM Energy Price Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The stock has a market cap of $4.79 billion, a PE ratio of 27.65, a PEG ratio of 6.12 and a beta of 0.40. The stock has a 50 day moving average of $48.53 and a two-hundred day moving average of $45.52.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. Equities analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.4075 per share. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.07%. TXNM Energy’s payout ratio is currently 84.90%.

Institutional Investors Weigh In On TXNM Energy

A number of institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of TXNM Energy during the 4th quarter worth about $38,000. LRI Investments LLC acquired a new stake in shares of TXNM Energy during the 4th quarter valued at about $40,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC acquired a new position in TXNM Energy in the fourth quarter worth approximately $53,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

About TXNM Energy

TXNM Energy, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.